You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Bulgaria's TPP Maritsa 3 swings to 9-mo cons net profit

Author Vasil Kolchev
Bulgaria's TPP Maritsa 3 swings to 9-mo cons net profit Photo: TPP Maritsa 3/ All rights reserved.

SOFIA (Bulgaria), December 1 (SeeNews) - Bulgarian thermal power plant (TPP) Maritsa 3 [BUL:MR3] said that it turned a consolidated net profit of 596,000 levs ($345,100/304,700 euro) in the first nine months of 2021, compared to a net loss of 908,000 levs in the same period of last year.

The power plant operator's revenue fell to 13.2 million levs in the nine months through September from 19.9 million levs in the comparable period of 2020, it said in an interim financial statement on Tuesday.

Coal-fired TPP Maritsa 3's expenses decreased to 12.6 million levs in the review period from 20.9 million levs the year before.

Last year, the company said it will lay off part of its employees due to the country's new rules for providing cold reserve services. Before the implementation of the new rules, the bulk of Maritsa 3 TPP's revenues came from contracts with the government for providing cold reserve capacity for electricity supplies. In July 2020, former energy minister Temenuzhka Petkova said that the government will rely on cold reserve capacity, if needed, only from state-owned coal-fired TPP Maritsa East 2.

The 120 MW TPP Maritsa 3 is located in the town of Dimitrovgrad, in southern Bulgaria.

Shares in TPP Maritsa 3 last changed hands at 134.62 levs on the Bulgarian Stock Exchange's BaSE market, bourse data showed.

(1 euro = 1.95583 levs)